Foundation Annual Report / Advocacy
Rochester Public Library Foundation Statement of Financial Position, December 31,2023
| Assets | ||
| 2023 | 2022 | |
| Current Assets | ||
| US Bank Checking | $4,293 | |
| Home Federal Checking | $116,529 | $78,301 |
| Total Current Assets | $116,529 | $82,594 |
| Long Term Investments | ||
| Publicly traded securities | 3,737,133 | 3,456,993 |
| Total Investments | 3,737,133 | 3,456,993 |
| Property, Plant, and Equipment | ||
| Furniture and equipment | 1,898 | 1,898 |
| Less: accumulated depreciation - equipment | (1,898) | (1,898) |
| Leasehold Improvements | 11,275 | 11,275 |
| Less: accumulated depreciation - leasehold improvements | (5,075) | (4,510) |
| Total Property, Planet and Equipment | 6,200 | 6,765 |
| Other Assets | ||
| Accrued interest | 0 | 5,493 |
| Total Other Assets | 0 | 5,493 |
| Total Assets | $3,859,862 | $3,551,845 |
| Liabilities and Stockholders' Equity | ||
| Liabilities | - | - |
| Total Liabilities | - | - |
| Equity | ||
| Beginning of year net assets | 3,551,845 | 4,087,460 |
| Change in net assets | 308,017 | (535,616) |
| Total Equity | 3,859,862 | 3,551,844 |
| Total Liabilities and Equity | $3,859,862 | $3,551,844 |
The above balances are unaudited and are presented for informational purposes only.
FOUNDATION FUNDRAISING PRIORITIES
The Foundation’s mission is to raise private funds for educational and informational resources and projects in a manner that does not diminish the need for strong public funding, and to educate the community about the Library’s vital role in meeting our community’s need.
- Building Fund
- Expansion of Wi-Fi Hotspot program
- Literacy: Rochester Reading Champions
- Materials: books, CDs, audiobooks, digital titles
- Wishlist items for library divisions
- Pilot Programming
- Diversity & inclusion
- Innovation & creativity
- Youth
The Foundation has played a key role in supporting RPL programs and initiatives that support community members through all stages of life.
Rochester Reading Champions
In early 2017, the Foundation partnered with the Rochester Valley of the Scottish Rite to lead a two-month matching donation drive supporting the Rochester Reading Champions (RRC) literacy program. RRC pairs highly trained volunteers with youth and adults in the community who struggle with reading. The Foundation’s goal of raising $5,000 (to be matched by the Scottish Rite Children’s Foundation) was surpassed, with over $6,000 raised in six weeks. The donations will help support the program as it expands to reach more struggling readers. Every RRC participant sees growth in reading and spelling after 80-100 lessons, all provided by volunteers who spend 120 hours in training. Without the financial support of the Foundation and other sponsors, the RRC program would not be able to offer the specialized training, greatly reducing the number of volunteers in the program.Wi-Fi Hotspots
In 2017, the RPL Foundation partnered with Olmsted County Community Services to launch the “Wi-Fi Hotspot” program to give community members greater access to the internet. Through the “Wi-Fi Hotspot program” the Foundation is able to support community members searching for jobs, filling out official forms, or completing school work. Having strong internet connectivity allows individuals to connect and contribute to our local economy. The program has been highly popular: at any given time all hotspots are checked out and over 100 people are waiting for access.
Summer Playlist
The Foundation supports local literacy efforts including the 2017 “Summer Playlist” program. This all-ages program encourages community members to spend part of their summer hours without technology and instead spend time reading, learning, creating, or connecting. Thousands of children, teens and adults participated in the 2017 program with many saying the Summer Playlist encouraged them to read after not doing so for many years. In all, over 4,000 kids, teens, and adults participated in Summer Playlist, a 52% increase over 2016.
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